Davis R M Inc. Trims Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Davis R M Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.3% during the 4th quarter, Holdings Channel reports. The fund owned 54,812 shares of the asset manager’s stock after selling 98,699 shares during the period. Davis R M Inc.’s holdings in T. Rowe Price Group were worth $6,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi lifted its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after buying an additional 346,369 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after buying an additional 315,581 shares during the period. Raymond James Financial Inc. purchased a new position in T. Rowe Price Group during the fourth quarter worth about $32,332,000. Finally, Provident Trust Co. lifted its position in T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after buying an additional 213,566 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $98.77 on Tuesday. T. Rowe Price Group, Inc. has a 1 year low of $97.26 and a 1 year high of $125.81. The firm has a market cap of $21.99 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The stock has a 50-day simple moving average of $109.86 and a 200-day simple moving average of $112.06.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the business posted $1.72 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.14%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Analysts Set New Price Targets

TROW has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays reduced their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Wells Fargo & Company cut their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $114.09.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.